UK Jobless Rate Paves Way for Potential BOE Rate Cut
UK unemployment reached its highest since the pandemic and wage growth eased as the labor market continued to weaken. The jobless rate climbed to 5.2% in the final quarter of...
By Bloomberg Markets · Bloomberg Markets
UK unemployment reached its highest since the pandemic and wage growth eased as the labor market continued to weaken. The jobless rate climbed to 5.2% in the final quarter of last year, the Office for National Statistics said Tuesday, paving the way for a potential interest-rate cut. Bloomberg's Sam Unsted breaks down the data and Aberdeen Investment economist Sree Kochugovindan assesses the Bank of England's next move. (Source: Bloomberg)